REUTERS
Ukraine and the UK agreed to start consultations on the creation of a free trade area, the need for which is conditioned by the Britain’s withdrawal from the European Union, Prime Minister Volodymyr Groysman told reporters in London July 5.
"If we look at the trade between our countries, it is just over $2 billion per year. In fact, the potential may be some $3.5 billion. Given that the UK has decided to withdraw from the European Union, we need to talk about the new foundations of our economic cooperation. I raised this issue and saw support, so we will start consultations on approaches to establishing a free trade area," the prime minister said.
According to Mr Groysman, Brexit creates absolutely new conditions in which it is necessary to form a basis for economic relations.
Read alsoUsed cars of Canadian origin to be zero-rated in Ukraine from August "We need to create new mechanisms, because now we will now be working only in the conditions of a free trade area with the European Union [within DCFTA]. It is clear that the UK’s withdrawal prompts us to begin the process of forming a new free trade agreement with Britain," the prime minister said.
As UNIAN reported earlier, the United Kingdom on March 29 sent a letter to the European Union informing of the official start of Brexit. Ukraine and the EU countries have an effective free trade agreement, while after Brexit is completed, the deal will not extend to the UK.